How Much the US Debt Grew Under Each President

[goldenequity]

How Much the US Debt Grew Under Each President
https://www.zerohedge.com/news/2018-...debt-one-chart

[oyarde]

Compare Ike to Obama to get a good picture .

[tfurrh]

That's a lot of Legos

[timosman]

Bush and Obama both doubled the debt in their 8 years in office.

[oyarde]

Bush and Obama both doubled the debt in their 8 years in office.

Obama thought the Bush 6 trillion was not enough of other peoples money and went right for 9 trillion .

[KEEF]

Bush and Obama both doubled the debt in their 8 years in office.

Two years in, and look at the debt accrued by MAGA

[enhanced_deficit]

Wait, deficit & debt talk.. why? What about Caravan.

[TheCount]

Seems that according to his own budget, Trump's rate of deficit spending exceeds Obama's even without a recession.

[CCTelander]

Two years in, and look at the debt accrued by MAGA

In just two years he's outdone Reagan, Bush Sr. and Clinton combined. It's the best debt increase in the history of debt increases. The best. Now THAT'S winning!

[Firestarter]

What's the use of presenting this information without compensating for the inflation?!?

The following graph is more honest, also from the Zerohedge piece in the OP, and shows the high increase in the debt of the US as percentage of the GDP since the Reagan-Bush White House.

[RJB]

This is exponential growth. Every president will experience this unless they want suffering. The suffering will come with this much debt, the question is when.

[Ender]

Looks like Harding & Coolidge were the only financially responsible presidents.

[dean.engelhardt]

Seems that according to his own budget, Trump's rate of deficit spending exceeds Obama's even without a recession.

This level of deficit spending during a strong business cycle is very irresponsible. The goal of spending $1 trillion/year on the military will eventually make the dollar worthless. The next recession will eventually happen, it will be interesting when the government has to decide between servicing the debt or spur economic growth.

[timosman]

Seems that according to his own budget, Trump's rate of deficit spending exceeds Obama's even without a recession.

Do you have data to compare growth of the debt during the first 18 months for both?

[Zippyjuan]

Keep in mind that it is Congress- not the President- who determines spending, taxes, and in turn- the debt/ deficit.

[Swordsmyth]

Wait, deficit & debt talk.. why? What about Caravan.

What happens to a welfare state with open borders?

[Swordsmyth]

Seems that according to his own budget, Trump's rate of deficit spending exceeds Obama's even without a recession.

This level of deficit spending during a strong business cycle is very irresponsible. The goal of spending $1 trillion/year on the military will eventually make the dollar worthless. The next recession will eventually happen, it will be interesting when the government has to decide between servicing the debt or spur economic growth.

The spending is bad but don't try to pretend we ever left the recession.
Trump has improved things slightly over O'Bummer but most of the "improvement" that O'Bummer took credit for is manipulation that doesn't benefit anyone but the manipulators.

[Aratus]

FDR is at 236 billion over 12 years, including WWII whereas Jerry Ford's 2 years racked up 224 billion.
Adjusting for inflation still has each president over the past 50 years basically outspending the previous
ones. Reagan's 1.86 trillion over two terms is 6 times what Carter did, and 7 times what Ford had done.
Trump is outspending Bush and Obama as we speak. He is outspending ALL the Cold War era POTUSes.

[Aratus]

The "W" outspends his own father by 5 times, Clinton over two terms racked up an amount less
than what the H.W did over one term! Our War on Terror is more expensive than the height of
our Cold War. Trump's TWO years is equal to FOUR of Obama's and SEVEN of the SHRUB's. He
has increased military spending. It has not been domestic spending that has this being a spiral.

[Aratus]

The top chart has Truman, Hoover, Coolidge and Harding spending an amount equal to Wilson.
The J.P Morgan chart shows the gov't spending verses the GDP, our wars do spike this up. Then
we see reductions, until there is a new war. Trump is on the verge of being abysmally obscene.

[TheCount]

The spending is bad but don't try to pretend we ever left the recession.
Trump has improved things slightly over O'Bummer but most of the "improvement" that O'Bummer took credit for is manipulation that doesn't benefit anyone but the manipulators.

"The word recession," Humpty Dumpty said, in rather a scornful tone, "Means just what I choose it to mean—neither more nor less."

[Swordsmyth]

"The word recession," Humpty Dumpty said, in rather a scornful tone, "Means just what I choose it to mean—neither more nor less."

Still shilling for government propaganda?

There was no economic recovery under O'Bummer, there is only the smallest beginnings of one under Trump.

[timosman]

Let's crunch some numbers from https://www.treasurydirect.gov/govt/.../mspd/mspd.htm

Trump
Aug'2018 21,458,850
Jan'2017 19,937,261

Growth - 7.63%

Obama - First term
Aug'2010 13,449,653
Jan'2009 10,632,080

Growth 26.50%

Obama - Second term
Aug'2014 17,749,172
Jan'2013 16,433,792

Growth 8.00%

[TheCount]

Still shilling for government propaganda?

There was no economic recovery under O'Bummer, there is only the smallest beginnings of one under Trump.

"The word recovery," Humpty Dumpty said, in rather a scornful tone, "Means just what I choose it to mean—neither more nor less."

[Swordsmyth]

"The word recovery," Humpty Dumpty said, in rather a scornful tone, "Means just what I choose it to mean—neither more nor less."

Central bankers had been every government’s close friend for years; a decade even. The relationships were beyond chummy, particularly as many governments celebrated their central bank heroes for heroically heroic actions saving the world from something like a repeat of 1929. While conventional perceptions were shaped by things like QE and low rates, reality, of course, has been much different. Former Treasury Secretary Henry Paulson recently said people like Ben Bernanke saved us all from that other disastrous fate. Except the US economy is about to complete an entire decade where it has underperformed the Great Depression.

It’s the one headline you won’t see anywhere, especially not on a perfect Payroll Friday.
What that has meant for more than the US economy is often massive distance between broad categorized perception and experience. Central bankers say one thing and most of the time people believe them even if it doesn’t seem consistence with their own experience; even former President Obama is desperate to claim credit for this economic boom current President Trump is constantly talking about.
And yet, Trump is acting up about Jay Powell. It doesn’t follow, unless you realize the danger of a boom that never boomed.


More at: https://www.zerohedge.com/news/2018-...-getting-along

[Zippyjuan]

Let's crunch some numbers from https://www.treasurydirect.gov/govt/.../mspd/mspd.htm

Trump
Aug'2018 21,458,850
Jan'2017 19,937,261

Growth - 7.63%

Obama - First term
Aug'2010 13,449,653
Jan'2009 10,632,080

Growth 26.50%

Obama - Second term
Aug'2014 17,749,172
Jan'2013 16,433,792

Growth 8.00%

Fiscal year begins in October, not August. Can you run the numbers starting then? The first budget passed under Obama began in October 2010 and for Trump in October 2017.

But also keep in mind that Congress, not presidents, are responsible for the budgets.

[TheCount]

Except the US economy is about to complete an entire decade where it has underperformed the Great Depression.

Cool. Not sure what that has to do with the definitions of the words 'recovery' and 'recession.'

[Zippyjuan]

Cool. Not sure what that has to do with the definitions of the words 'recovery' and 'recession.'

The Great Depression was much more severe. Doubling (or whatever growth rate) after the bottom does not put you in the same place as doubling after the Great Recession.

GDP declined 26% during the Great Depression yet only about three percent in the Great Recession. Unemployment was 25% vs a peak of 9%.

[timosman]

The Great Depression was much more severe. Doubling (or whatever growth rate) after the bottom does not put you in the same place as doubling after the Great Recession.

GDP declined 26% during the Great Depression yet only about three percent in the Great Recession. Unemployment was 25% vs a peak of 9%.

According to the official data.

[Swordsmyth]

The Great Depression was much more severe. Doubling (or whatever growth rate) after the bottom does not put you in the same place as doubling after the Great Recession.

GDP declined 26% during the Great Depression yet only about three percent in the Great Recession. Unemployment was 25% vs a peak of 9%.

If you believe the modern government numbers that are even more manipulated.